Shareholders of Many Idea Cloud (HKG:6696) will meet Feb. 10 to vote on a 20-for-1 share consolidation plan, a Tuesday bourse filing said.
The marketing services provider is proposing to consolidate every 20 issued and unissued existing shares of par value HK$0.0001 each into one consolidated share of par value HK$0.002 apiece.
Following consolidation, the firm will have an authorized share capital of HK$1 million divided into 500 million consolidated shares, 68 million of which will be in issue.
The company is also proposing to increase its authorized share capital to HK$2 million divided into 1 billion shares of HK$0.002 each by creating 500 million additional consolidated shares.
The board lot size for trading is also proposed to be changed to 1,000 consolidated shares from 2,000 existing shares.
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